The government of Sri Lanka will invest $132 million in port development projects.
Sri Lanka’s Minister of Ports, Shipping, and Aviation, Nimal Siripala de Silva, said the government plans to use the revenue generated from port operations to fund these investments, and the projects are expected to drive economic growth in the region.
According to Chinese state media outlet Xinhua, the Minister stated that the Eastern Container Terminal would receive more than $100 million, while the Jaya Container Terminal would receive $32 million.
Both terminals are fully owned by the Sri Lanka Ports Authority.
READ: India to fund Cochin Port transshipment hub amid Sri Lanka crisis
Additionally, the government plans to develop the Trincomalee harbour for bulk cargo operations and the Galle harbour for tourism purposes.
The Galle harbour will be developed to facilitate yacht services and accommodate large ships.
These investments are part of Sri Lanka’s broader aim to become a logistics and transport hub in the Indian Ocean and a boost economic activity.
Upon completion, the terminal will have a total quay length of 1.4 kilometres, an alongside depth of 20 meters and an annual capacity of approximately 3.2 million TEU.
